Tool to Migrate Allocations Between Projects for Renewals

I need a built-in tool or wizard to 'migrate' resource allocations from one project to a new project (e.g., a renewal project) at either a role level or a role and person level. This is critical for managing annual managed service renewals and long-range capacity planning, as merging projects is not a viable solution because it causes the loss of the ability to track different rates, efficiencies, and project profitability on renewals.